Thursday 19, July 2018 by Kudakwashe

Saudi Electricity Company considers issuing international bond

 

The company seeks to refinance a bridge loan it raised for general corporate purposes and to back its capital expenditure programme.

  

Saudi Electricity Company has engaged a number of international banks as it plans to issue international bond to refinance a $2.6 billion bridge syndicated loan it raised in January, reported Reuters.

The state run company raised a bridge loan with a one-year maturity and was provided by Citibank, MUFG, First Abu Dhabi Bank as well as HSBC, Mizuho Bank, Natixis, Sumitomo Mitsui Banking Corporation and Standard Chartered Bank.

The debt sale can be deferred to September if market conditions do not show improvement.

 

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